FLC Capital Advisors Sells 1,100 Shares of salesforce.com, inc. (NYSE:CRM)

FLC Capital Advisors cut its holdings in salesforce.com, inc. (NYSE:CRM) by 20.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,167 shares of the CRM provider’s stock after selling 1,100 shares during the period. FLC Capital Advisors’ holdings in salesforce.com were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of CRM. First Eagle Investment Management LLC bought a new stake in salesforce.com in the 2nd quarter valued at about $264,849,000. Vanguard Group Inc. increased its position in salesforce.com by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 71,232,417 shares of the CRM provider’s stock valued at $13,343,968,000 after buying an additional 1,349,434 shares in the last quarter. Nordea Investment Management AB increased its position in salesforce.com by 127.6% in the 2nd quarter. Nordea Investment Management AB now owns 2,277,592 shares of the CRM provider’s stock valued at $420,990,000 after buying an additional 1,276,882 shares in the last quarter. PointState Capital LP bought a new stake in salesforce.com in the 2nd quarter valued at about $228,008,000. Finally, BlackRock Inc. increased its position in salesforce.com by 1.6% in the 2nd quarter. BlackRock Inc. now owns 64,796,146 shares of the CRM provider’s stock valued at $12,138,263,000 after buying an additional 1,042,078 shares in the last quarter. 81.40% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Brent Hyder sold 16,727 shares of the company’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $252.25, for a total value of $4,219,385.75. Following the transaction, the insider now owns 16,727 shares of the company’s stock, valued at $4,219,385.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Joe Allanson sold 238 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $242.78, for a total transaction of $57,781.64. Following the completion of the transaction, the chief accounting officer now directly owns 31,439 shares in the company, valued at approximately $7,632,760.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 724,767 shares of company stock worth $171,148,885. Insiders own 4.40% of the company’s stock.

A number of equities analysts have issued reports on the company. BMO Capital Markets lifted their price target on salesforce.com from $213.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Royal Bank of Canada lifted their price target on salesforce.com from $220.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Piper Sandler lifted their price target on salesforce.com from $210.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. Zacks Investment Research upgraded salesforce.com from a “hold” rating to a “strong-buy” rating and set a $312.00 price target for the company in a research note on Monday, August 31st. Finally, Barclays lifted their price target on salesforce.com from $264.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and an average target price of $248.60.

CRM stock traded down $10.35 during midday trading on Monday, reaching $240.17. 369,100 shares of the company’s stock traded hands, compared to its average volume of 4,306,193. The company has a 50-day moving average price of $251.50 and a two-hundred day moving average price of $201.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.15 and a current ratio of 1.15. salesforce.com, inc. has a 52 week low of $115.29 and a 52 week high of $284.50. The firm has a market capitalization of $231.35 billion, a PE ratio of 92.96, a price-to-earnings-growth ratio of 8.51 and a beta of 1.27.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 25th. The CRM provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.77. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.90 billion. salesforce.com had a net margin of 12.21% and a return on equity of 3.99%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, analysts predict that salesforce.com, inc. will post 1.91 EPS for the current fiscal year.

salesforce.com Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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